All major banks in Australia are down right now.

All major banks in Australia got hit with a nation-wide outtage at the exact same time today leaving online banking services unusable.

This is a major concern for many reasons but before people jump to conclusions it’s important to consider how crypto isnt immune from this either.

Consider when AWS went down and wallets that were hosted on websites using aws were inaccessible and showing balances of 0.

Or exchanges that aren’t accessible if their providers crash

Let this be a wake up call of how fragile ALL financial systems are and how important it is to have both:

• cash for emergencies

• cold storage for crypto